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British pound falls to fresh weekly trading low

British pound falls to fresh weekly trading low

8 May 2019, OctaFX – The British pound has fallen to a fresh weekly trading low against the US dollar after bulls failed to stabilize the pair above the 1.3064 resistance level.

GBPUSD technical analysis

GBPUSD sellers may soon start to target towards the 1.2990 level if the 1.3030 support level is broken. Technicals indicators across the four-hour time frame are still turning lower as intraday downside pressures increase.

  • The GBPUSD pair is heavily bearish while trading below the 1.3064 level, key support is found at the 1.3030 and 1.2990 levels.

  • If the GBPUSD pair trades above the 1.3064 level, key intraday resistance is found at the 1.3100 and 1.3135 levels.

GBPUSD technical analysis, British pound falls

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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